| OAKLAND, Md., May 2, 2012 -- First United Corporation issued a press release on April 27, 2012 in which it announced, among other things, a net loss attributable to common shareholders of approximately $3.8 million for the quarter ended March 31, 2012, or basic and diluted loss per common share of $.61. Subsequent to that announcement, the Corporation determined that it would be able to recognize an additional $715,000 in non-interest income for the first quarter due to the March 2012 death of an insured under a bank-owned life insurance policy owned by the Corporation's bank subsidiary, First United Bank & Trust. This additional amount represents the tax-free death benefit that is payable under the policy. As a result, the Corporation is revising its earlier announcement to report consolidated net loss attributable to common shareholders of approximately $3.1 million for the first quarter of 2012, or basic and diluted loss per common share of $.50.
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